Chesapeake Energy (NASDAQ:EXE) Upgraded to “Sector Outperform” at Scotiabank

Chesapeake Energy (NASDAQ:EXE) was upgraded by equities research analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research report issued on Friday, Marketbeat Ratings reports. The firm presently has a $130.00 target price on the stock, up from their previous target price of $105.00. Scotiabank’s target price points to a potential upside of 22.23% from the company’s current price.

A number of other research firms also recently weighed in on EXE. Wells Fargo & Company upped their target price on shares of Chesapeake Energy from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday. Benchmark restated a “buy” rating and issued a $93.00 price objective on shares of Chesapeake Energy in a report on Wednesday. UBS Group upgraded shares of Chesapeake Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $94.00 to $123.00 in a report on Monday, December 9th. Truist Financial boosted their price target on Chesapeake Energy from $109.00 to $133.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Mizuho raised their price objective on Chesapeake Energy from $110.00 to $128.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $115.38.

Chesapeake Energy Stock Performance

Chesapeake Energy stock opened at $106.36 on Friday. Chesapeake Energy has a fifty-two week low of $69.12 and a fifty-two week high of $109.47. The firm’s 50 day moving average price is $98.82. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.00 and a current ratio of 2.00. The company has a market cap of $24.58 billion, a PE ratio of 65.65 and a beta of 0.52.

Chesapeake Energy (NASDAQ:EXE) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.15. The company had revenue of $648.00 million for the quarter, compared to analyst estimates of $708.98 million. Chesapeake Energy had a return on equity of 2.74% and a net margin of 6.07%. The firm’s revenue was down 57.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 earnings per share. On average, analysts predict that Chesapeake Energy will post 0.89 earnings per share for the current year.

Insiders Place Their Bets

In other Chesapeake Energy news, Director Catherine A. Kehr sold 43,623 shares of Chesapeake Energy stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $99.58, for a total value of $4,343,978.34. Following the completion of the sale, the director now owns 5,201 shares of the company’s stock, valued at approximately $517,915.58. The trade was a 89.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.17% of the stock is owned by insiders.

About Chesapeake Energy

Expand Energy Corporation is an independent natural gas producer principally in the United States. Expand Energy Corporation, formerly known as Chesapeake Energy Corporation, is based in OKLAHOMA CITY.